Member Sign In

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.

If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.

The acquired 30,000 square foot Big Lots Inc. (BIG - Free Report) store is located in The Shoppes at Lakestone Commons. The shopping center in Fuquay-Varina town of North Carolina, also anchors a Kohl's Corp. (KSS - Free Report) department store.

On the other hand, the Dollar General Corporation (DG - Free Report) unit, which spans 20,834 square foot, is situated in State Street in Lyons, Georgia. The department store houses many world class brands such as Kellogg Company (K - Free Report) , Hanesbrands Inc. (HBI - Free Report) and Unilever plc (UL - Free Report) . As a matter of fact, both the acquired units have recently opened for business.

Agree Realty is actively repositioning its portfolio by divesting assets that have limited opportunities and acquiring properties which have the potential to generate higher returns. Last month, the company acquired a unit of Harris Teeter, Inc. – a wholly-owned subsidiary of Harris Teeter Supermarkets, Inc. – for approximately $3.0 million. The company has acquired 37 premium assets across 20 states for roughly $135 million, since the inception of its acquisition policy in 2010.

In addition, the company is also focused on potential ground lease and build-to-suit opportunities for retailers under long-term net leases, thereby guaranteeing a consistent source of income. The company acquired seven single tenant retail properties in third-quarter 2012 for roughly $22 million. The acquired properties were net leased to some world-class tenants such as AutoZone Inc. (AZO - Free Report) and Family Dollar Stores Inc. .

Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants. Currently, it owns a portfolio of 101 properties, spanning 3.2 million square feet, located across 25 states.

We have a long-term Neutral recommendation on Agree Realty. However, it holds a short-term Zacks #2 Rank (Buy).

Resources

Client Support

Follow Us

Zacks Research is Reported On:

Yahoo

MSN

Marketwatch

Nasdaq

Forbes

Investors.com

Morningstar

Zacks Investment Research is an A+ Rated BBB Accredited Business.

Copyright 2016 Zacks Investment Research

At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1988-2015 and were examined and attested by Baker Tilly Virchow Krause, LLP, an independent accounting firm.

Visit performance for information about the performance numbers displayed above.